China’s domestic stainless steel prices have fluctuated during the past week, with decreases seen in 300 series prices due to increased supply.
Global nickel prices have declined during the past week. On August 9, the three-month nickel price at the London Metal Exchange (LME) closed at $21,450/mt, while LME nickel inventory on the same date totaled 56,382 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels, but has mostly been taking place between traders. Demand is still weak due to the offseason. As for the week ahead, it is believed that stainless steel prices may move down by a small margin.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,100 |
0 |
6 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,900 |
1,316 |
0 |
4 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,500 |
2,588 |
-300 |
-37 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,400 |
2,426 |
-750 |
-103 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,200 |
1,065 |
0 |
3 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,000 |
1,183 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.761 (August 10)